National Homeownership Month: First time homeowner handed keys by PCF Development

First time homeowner surprises family with new Pawtucket home

PCF Development celebrated National Homeownership Month this week by handing the keys to a completely remodeled home on York Avenue in Pawtucket to a first-time homebuyer. The single-family dwelling is being sold for $299,000 – far below the median home price. (In RI the single-family median home price is more than $453,000). 

PCF Development purchased the abandoned and blighted Pawtucket home and completely renovated and restored it into beautiful, quality, affordable housing. The home is being sold to a family of four for more than $150,000 below the median home price in the Ocean State. The official closing is scheduled for June 24, but first-time homebuyer, Tierra Souza, of Pawtucket was able to surprise her family, including her two children (16, 11) and showed them their new house this week.

“This journey has not been easy, but with all the help from PCF Development and Rhode Island Housing I am able to stand here today and see one of my dreams come true,” said Souza. “I am looking forward to making a lot of memories here.”

The York Avenue home sale is being done as part of PCF Development’s ongoing commitment to offering solutions to Rhode Island’s housing crisis by providing quality, affordable housing opportunities, and revitalizing neighborhoods. In the last three decades PCF Development has created more than 500 affordable homes and rental units. Led by the in-house construction team, PCF Development is the only nonprofit general contractor in Rhode Island.

Not only is PCF Development developing affordable units in the state, but it is creating pathways to homeownership through its HUD approved bilingual education program, which teaches potential first-time homebuyers how to budget, get rid of debt and save money. Tierra Souza is a graduate of the PCF Development homeownership education program. 

“Home sales prices (in Rhode Island) continue to escalate, making it unaffordable to many prospective home buyers to buy their own home,” said Linda Weisinger, executive director, PCF Development.

“This single family home being sold on York Avenue is being sold for a low price – (far below the median home price in RI). So if that’s not meeting our mission, I don’t know what is.”

June, 2024 is the 22nd Annual National Homeownership Month. In the presidential proclamation, the president called “upon the people of this Nation to safeguard the American Dream by ensuring that everyone has access to an affordable home in a community of their choice”.

Rhode Island ranks 38th in the nation in housing production and PCF Development is working tirelessly towards a solution to this housing crisis.

Most recently, PCF Development broke ground on Central Street Development, a mixed-use housing development that will bring more than 60 rental units to Central Falls and Pawtucket. The rents will start at $750 a month.